Glossary · People and paperwork
Estate
In short
An estate refers to all the property and debts owned by a person, especially at the time of their death. If you're buying a business from a deceased owner, you'll be dealing with their estate.
What it means in a deal
When acquiring a business from an estate, you'll need the estate executor to sign all sale documents. Ensure they have the legal authority to sell the business, which often requires court approval, adding complexity and potential delays to the deal.
Related terms
Common questions about Estate
- What is the difference in repayment terms between real estate and non-real estate loans?
- If the business owns real estate, must the buyer also purchase the real estate with the business?
- If I'm buying a business with real estate, can I get a longer term if the real estate is a significant portion?
- When is personal real estate typically required as additional collateral?
- What environmental due diligence is mandatory for real estate collateral?
- How can life insurance support business succession planning and estate equalization?
Defined by CapBench SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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